QuinteQ is very competitive in the $50B existing market for storage and will increasingly eat into the realm of intermediate and base load power production as renewable energy penetration increases.
The Present & Future Market for QuinteQ
The market for frequency regulation and other ancillary services grows as renewable energy penetration increases
Peaker plants, which may run for less than 500 hours per year, are an expensive alternative for managing the peaks and valleys on the grid
The combined global market for ancillary services and peak power support is conservatively estimated at $50 Billion annually
In due time, renewables in combination with energy storage will become more cost effective than base load technologies like coal, natural gas and nuclear, leading to an estimated market for QuinteQ Energy Storage of $3.6 Trillion
The cost of energy greatly increases from base load to peak generation; QuinteQ will first target the ancillary services and peak power markets.
The Need for Energy Storage
Energy supply must exactly match energy demand nearly 100% of the time; energy produced that is not needed by the grid is wasted.
Increased penetrations of intermittent renewable energy resources cause imbalances on the grid that must be managed by energy storage or increasingly expensive speaker plants.
The aging transmission and distribution network creates bottlenecks that prevent the most cost-effective sources of energy from reaching the areas it is needed most.
The global reliance on fossil fuels and its climate implications can only be mitigated once renewables paired with energy storage becomes cost-effective.
The balancing act with fluctuating natural resources such as solar and wind energy is an expensive challenge for grids of all sizes.
Value of QuinteQ Energy Storage
The true value for energy storage lies in the ability to perform multiple storage functions.
Most technologies are either energy dense or capable of providing large bursts of power; only QuinteQ has the platform to achieve both at unbeatable cost levels.
QuinteQ will initially serve the market for ancillary services including frequency regulation, voltage support and as a fast-ramping resource.
By years 4 and 5, QuinteQ’s increased energy density will allow for greater market opportunity such as transmission & distribution deferral, peak demand reduction and energy arbitrage.
Energy storage is the missing piece to the global transition to renewable energy.
